Every person, liable to pay the tax in accordance with the provisions of section 68 of the Finance Act, 1994 or rules made thereunder, who fails to credit the tax or any part thereof to the account of the Central Governm
CS Executive · Tax Laws and Practice · PYQS · December 2014
Every person, liable to pay the tax in accordance with the provisions of section 68 of the Finance Act, 1994 or rules made thereunder, who fails to credit the tax or any part thereof to the account of the Central Government within the period prescribed, shall pay simple interest at rate —
Answer & Explanation:
Correct Answer: Option (A)
Correct answer: (A) Not below 10% and not exceeding 36%. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.
Topics: Service Tax
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